Yes when we have deficits so huge that american workers and retirees must get shafted according to republican plans while the oil companies who are making billions in profits get to keep their billions of dollars in welfare......

All Republicans except for two voted to block it, as well as three Democrats

Thanks to a republican vote, guess the skyrocketing deficit just didn't apply in this case... since the lobbyists are too powerful for the republican party. What happened to all the "free-market" talk or the concerns of the debt and growing deficit?

do you really think the republicans are going to reduce spending once they get there reduced taxes when they can't even vote on such an obvious bit of absurdity? This isn't a couple rogue republicans, this is a party as whole issue.

Well, as Bill Maher said once, he could see how rich people could vote republican, but was astounded at how the working class could be dupped into voting republican. Just the fact that they tried to beat out people of unemployment tells me that they aren't in my court!

No subsidies = oil companies will cease doing business in America. A great example is GE. To circumvent America's business taxes (highest of any nation in the world), they keep all of their profits offshore, and, therefore, pay zero taxes to America.

No subsidies = higher prices for Americans at the pump. Like it or not, if big oil didn't have those subsidies, their extra costs would go directly to the consumer, you and I.

I wish it would've passed, so I could've seen the Dem's scrambling to somehow blame the higher gas prices and loss of US jobs on the Republicans. It was a good political move on their part to try and paint the GOP evil, especially coming up to the 2012 election. Ahhh, how we all wish politics were a simple evil-or-good picture...

No subsidies = oil companies will cease doing business in America. A great example is GE. To circumvent America's business taxes (highest of any nation in the world), they keep all of their profits offshore, and, therefore, pay zero taxes to America.

rubbish, corporate taxes are fairly similar, and the countries with lower corporate tax rates usually have much higher personal tax rates to make up for it, so if we lower corporate tax rates should we bump up the personal income tax on the rich to a more standard (for developed countries) 45%? Plus the reason they keep it offshore is they don't have to pay ANY taxes on that money, not because place "A" has a lower tax rate, it's because if they can play games and move the money around they can pay almost nothing in taxes

No subsidies = higher prices for Americans at the pump. Like it or not, if big oil didn't have those subsidies, their extra costs would go directly to the consumer, you and I.

again rubbish, if oil companies can make money drilling they will do so. You can give them all the subsidies you want but if they aren't going to profit from drilling, they won't drill, it is as simple as that. Right now they are profiting big time, they don't need the governments help (free market right?).

You really think the oil company execs are going to say "well this oil is not economical to drill at the current rates, but we got these subsidies so let's drill this oil at a loss and then sell it on the american market for cheaper then the going world price.

Plus oil prices are set globally based on total supply and demand, there is no drill here and stay here, it will go where the money is. So we are subsidizing in theory worldwide prices. So I bet if you were to work out the size of the subsidies compared to the companies cost and worldwide supply we would probably be lucky if it changed the price of a gallon of gas at the pump by a fraction of a penny.

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I wish it would've passed, so I could've seen the Dem's scrambling to somehow blame the higher gas prices and loss of US jobs on the Republicans. It was a good political move on their part to try and paint the GOP evil, especially coming up to the 2012 election. Ahhh, how we all wish politics were a simple evil-or-good picture...

Again oil companies will drill if it is profitable and won't when it's not economical, subsidies don't change that dynamic in the least.

To think a company is going to reduce consumer prices or create products it could not otherwise sell so cheap when there is a worldwide market willing to buy the products at a price that guarentees a good profit is absurd, at worst even if your logic had any weight to it then you are arguing that america should subsidize lower oil prices for the world since those oil companies HAVE ZERO obligation to sell to only the states.

I highly suggest you read up a bit more on economics, I don't think you understand the game being played here. subsidies are only meant to be used for short term companies getting started up at best, long term subsidization is bad, subsidizing the most profitable companies in the country is just insanity.

Haha that's just too naive guys. You take away their perks, they cease doing business in America. You charge them more money, they charge the consumer more money. It's just that simple, guys. And, for the record, more dem's went across the isle to oppose this than rep's did to support it. So, SOME of you guys understand economics.

I don't enjoy knowing that we give them tax breaks, either. But with a high jobless rate and Obama still in the presidency, I think we need all the help we can get.

Haha that's just too naive guys. You take away their perks, they cease doing business in America.

You are looking far too short sited, you really think oil companies will leave, no they won't because anywhere else they will be taxed just as much plus the executives will be taxed tremendously more

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You charge them more money, they charge the consumer more money.

SERIOUSLY????? with global corporations where they can sell the oil anywhere you really expect us to believe they are going to give americans a discount just because of the tax breaks???? when they have no obligation and can easily sell it for more????? now come on seriously????

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It's just that simple, guys. And, for the record, more dem's went across the isle to oppose this than rep's did to support it. So, SOME of you guys understand economics.

3 verse 2, hardly a landslide of support

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I don't enjoy knowing that we give them tax breaks, either. But with a high jobless rate and Obama still in the presidency, I think we need all the help we can get.

we?????, so you are a wealthy executive I take it? as those are the only people really benefiting from this besides potentially shareholders.

You are looking far too short sited, you really think oil companies will leave, no they won't because anywhere else they will be taxed just as much plus the executives will be taxed tremendously more SERIOUSLY????? with global corporations where they can sell the oil anywhere you really expect us to believe they are going to give americans a discount just because of the tax breaks???? when they have no obligation and can easily sell it for more????? now come on seriously????3 verse 2, hardly a landslide of support
we?????, so you are a wealthy executive I take it? as those are the only people really benefiting from this besides potentially shareholders.

I'm active duty Marine Corps, and I don't own any stake in oil.

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Originally Posted by blucher

This is where the cars live and no oil company is going to walk away from that. Obviously with profits in the BILLIONS PER QUARTER they were doing great prior to Bush giving them the store.

I don't mean they're going to stop selling oil in America - but you already knew that. I meant doing corporate business and paying taxes in America.